SB2346 amends the Illinois Banking Act and Savings Bank Act to regulate mergers and changes in control of financial institutions.

SB2346 amends the Illinois Banking Act and the Savings Bank Act to establish procedures for mergers and changes in control of financial institutions. It requires that any merger or change in control of a savings bank or depository institution must be approved by the Secretary. The Secretary can impose terms and conditions on the approval of the merger agreement. The bill outlines specific requirements for the merger agreement, including details about the resulting institution, the method of converting shares, and the financial condition of the institutions involved.

SB2346 amends the Illinois Banking Act and Savings Bank Act to regulate mergers and changes in control of financial institutions.

SB2346 amends the Illinois Banking Act and the Savings Bank Act to establish procedures for mergers and changes in control of financial institutions. It requires that any merger or change in control of a savings bank or depository institution must be approved by the Secretary. The Secretary can impose terms and conditions on the approval of the merger agreement. The bill outlines specific requirements for the merger agreement, including details about the resulting institution, the method of converting shares, and the financial condition of the institutions involved.